A few years back, I had plans to meet up with some friends in another city. I made my hotel reservation two months ahead of time (a rarity for me), and generally felt pretty smug about how prepared I was. That is, until I discovered that a friend who’d booked after me had paid less. As it turns out, hotel rates, like plane tickets, fluctuate—and sometimes better deals pop up later in the game.

Earlier today, the technology company Service proposed a fix to this dilemma: It’ll monitor the rate of your hotel reservation, and if it decreases, will automatically rebook it for you. (Thus rendering you the smuggest of all.)

To use Service, you must first connect your Gmail or Hotmail account. (If your company uses Gmail as its email server, but your address isn’t “@gmail.com,” that’ll work, too.) Once you do that, Service will continually scan your inbox for relevant metadata. If, in the sender or subject line, it sees something related to hotel reservations—say it’s from Sheraton, or the subject is, um, “hotel reservation”—it’ll download that email.

Once it confirms the information pertains to a hotel reservation, Service’s software will check the prices for that exact room—same dates, same reservation type, same preferences—several times a day. If it finds it for cheaper than what you paid, it’ll “amend” your reservation, rebooking you at the lower rate. To do this, it only needs your name and confirmation number, which it grabbed from your email. It’ll continue this process until the booking becomes non-refundable, which is usually 24 to 48 hours before check-in.

There’s no charge upfront, but if Service finds you a better deal, you’ll pay a fee equal to 30 percent of whatever you saved. So, if it saved you $30, Service will charge your credit card $9. And that’s only if you actually stay at the hotel. If you cancel your reservation, Service won’t charge you—even if it already completed the whole rebooking rigamarole for that room.

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For frequent travelers, there’s also a subscription plan that costs $49 per year. With that route, all the savings you earn—whether through airline delay compensation or hotel bookings—are yours to keep.

At the moment, Service only works with bookings made directly through Marriott, Hyatt, Starwood, Intercontinental and Hilton. (Which is probably how you should book hotels anyway.) Bookings must be refundable and changeable, and made with cash—not points. They can be either domestic or international. The company said it plans to add online travel agencies like Expedia, Travelocity, Hotels.com, Trivago and Priceline in the coming weeks, and will continue to add new hotel brands after that.

How Much Will You Actually Save?

Hotel prices aren’t nearly as volatile as plane tickets (or Amazon). So is there really that much to gain from tracking them?

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“Hotel rates fluctuate all the time,” said Service CEO Michael Schneider. “The likelihood they’re going to drop often depends on the market. New York City, for example, usually starts high and drops as you get closer to check-in.” Las Vegas, he said, is similar to New York, while Miami and Los Angeles are more stable. And San Francisco is the complete opposite: It starts low and goes high.

“Overall, in the top 25 markets in the U.S., hotel rates drop 36 percent of the time,” said Schneider. “The average drop is 10 percent, and the average rate is $153 per night.” In other words, you might save around $15 per night on a typical booking. “But remember,” he added, “it could drop multiple times before you ever check in.”

I, for one, am probably going to give Service’s hotel feature a shot. Since it costs nothing to try—and since I have an irrationally competitive streak when it comes to finding the best travel deals—I figure why not?